ChampionX Co. (NASDAQ:CHX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,708 shares of the company’s stock after selling 2,385 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ChampionX were worth $1,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CHX. Legend Financial Advisors Inc. lifted its stake in shares of ChampionX by 1.6% in the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after acquiring an additional 340 shares during the period. Nisa Investment Advisors LLC increased its stake in ChampionX by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after purchasing an additional 487 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in ChampionX during the first quarter worth $27,000. UMB Bank n.a. increased its position in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of ChampionX by 16.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after buying an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their price target on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday.

ChampionX Stock Down 0.8 %

CHX opened at $30.64 on Monday. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The firm has a market cap of $5.84 billion, a P/E ratio of 19.03 and a beta of 2.38. The business’s fifty day simple moving average is $30.21 and its 200 day simple moving average is $31.65. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, equities research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.095 per share. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. ChampionX’s payout ratio is 23.60%.

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.38% of the company’s stock.

ChampionX Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.